Author: Tami Wloch

Eminent domain refers to the fundamental power of the government to take real estate owned by a private person for a public use, without the owner’s consent or agreement.  As a property owner, the last thing you probably want to hear is that you are losing your property against your will.  But can you actually stop it from happening?  Here are some important ways to protect your rights and your property if you find yourself in this predicament.

Learn the Definition of Eminent Domain

Can the government really just take your land without your consent?  Yes, they can.  The law of eminent domain, which is also known as condemnation, gives the government the power to acquire all or part of a private property for a public purpose after paying appropriate compensation to the property owner. This payment is intended to cover the actual property that is taken, or damage that results to any part of the property that is not taken.

Most government entities, including cities, counties or state agencies, can exercise the power of eminent domain.  Some examples of projects where it might be appropriate include the construction of roads, parks, railroads, schools, municipal buildings or power lines.

Understand the Eminent Domain Process

Typically, the eminent domain process follows a standard sequence of events.  Once a government agency determines there is a need to implement eminent domain, they must send written notice to the owner of their intent.  In this notice, they should include a legal description of the property or parcel they intend to acquire as well as their offer of compensation.  Additionally, they should explain their reasoning in determining the offer and include the time period in which the owner must accept the offer or continue with negotiations.

If the parties are unable to reach an agreement, the government agency must file a complaint in the county in which the property is located in order to escalate the process.  This process will then continue with negotiations between attorneys, with each side gathering and presenting evidence to support their assertion of fair compensation. If a trial is necessary, a judge or jury will make the final determination of just compensation based on the evidence presented to them.

Know your Rights as a Property Owner

It is important to understand that you do have rights when it comes to your own property.  In this respect, the government cannot simply take over your land or home without just cause.  As previously stated, an eminent domain action can only be initiated out of public necessity or public purpose. This means that the government must have an appropriate reason to claim your land.  Additionally, property owners are entitled to fair compensation. This compensation should be based on the fair market value of your home and land, and could also include allowances for relocation, lost work or other factors. You do not have to accept the first offer made if you do not feel that it is fair.

Work With a Trusted Attorney

The most common question a property owner usually has is whether they even stand a chance against the government in the case of an eminent domain situation.  At Churchill, Quinn, Hamilton & Van Donselaar, Ltd, we want you to understand that you are not powerless. Our team is dedicated to helping you navigate this process and achieve the best possible outcome.  In occasional instances, it can be argued successfully that the government lacks an adequate public purpose for taking your property or that they are attempting to take more land than is necessary.  If there is an appropriate legal claim, we can work to ensure you receive the highest compensation you deserve for your property.  If you have received a notice of eminent domain, contact our office at 847-223-1500 to schedule a consultation and learn what your next steps should be.

The construction industry is a prime target for legal action.  Disputes commonly arise and can be time-consuming, expensive and can affect the reputation of those involved.  Working with an experienced attorney who is well-versed in construction law can help successfully resolve disputes in the following common scenarios:

Contract Disputes

Contract disputes are very common within the construction industry and arise when there are disagreements between the parties on the contract.  In these instances, there is an actual or perceived violation of terms set forth in the construction contract. This could be due to a misunderstanding of the terms or conditions of the contract, or terms that were not properly negotiated up-front.  Your attorney should oversee contract negotiations and point out potentially problematic issues from the beginning to avoid issues down the line.

Mechanic’s Liens

A mechanic’s lien is a guarantee of payment to builders, contractors and construction firms, as well as suppliers and subcontractors.  Mechanic’s lien laws provide construction businesses with an interest in the improved property in order to secure payment for their services. However, taking advantage of these laws can be very difficult.  The steps that are necessary to perfect a lien are technical and must be followed with the utmost accuracy.  Our experience and understanding of Illinois mechanic’s lien law has been essential in perfecting and enforcing mechanic’s lien rights for thousands of past clients.

Timeline Disputes

Creating an accurate timeline for a construction project can be a challenging task.  Unfortunately, projects do not always go as planned and extra time is sometimes required to get it properly completed.  Disputes can quickly arise, as additional time typically means increased cost as well as possible logistical issues for the client.  The more significant the delays, the more likely it is that a legal dispute will become an issue.  While some delays are unavoidable or unforeseeable, our attorneys will help to refine upfront timeline planning, as well as negotiate a fair resolution if a contracted timeline is violated.

Construction Defects

Construction defects can result in serious claims, as they can threaten the safety of the structure or its occupants.  A construction defect is typically classified as a failure of a building system or a component that can cause extensive property damage and serious personal injury. Examples of this might be a foundation defect or other structural issues, electrical systems, drywall, plumbing or other code violations.  Construction professionals accused of negligence must understand the serious nature of the claim and the need for competent legal representation.

The attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd have extensive experience with litigation related to the construction industry.  We represent clients in the industry including general contractors, subcontractors, materials suppliers, owners, builders and financial institutions in disputes related to construction in all stages of construction projects.  Right from the start, we will assist with the drafting of contracts, supply agreements, credit applications and more. And if a dispute should arise during the process, we will provide representation in and out of the courtroom in order to bring your project to completion.  Contact us at 847-223-1500 for further information.

When starting a new business, or growing your existing business, one of the most important things you’ll need to do is determine the appropriate business structure.  It is a crucial part of establishing the future path of your business.  So do your research, consult with an experienced attorney and choose wisely!

Common Business Structure Options

Before learning the reasons why the right choice of business structure matters, it is important to understand what options are available.  The most common types of business structures are the following:

• Sole proprietorship – a good choice if you plan on running a small business on your own. It is fairly easy and inexpensive to establish this business structure meant for one owner.
• Partnership – this structure involves two or more individuals who each contribute to the business and who share in the profits and losses of the company. You can consider a general partnership, limited partnership or joint venture, based on the roles or commitment each partner wants to assume.
• Limited liability company – also known as an LLC, this entity is a kind of hybrid structure that combines the benefits of a corporation or partnership while removing the personal liability factor.
• Corporation – an independent entity, separate from its owners. This is more complex and expensive than other business structures, but is a good choice if you have plans to take the company public or sell it.

These are not the only business structure choices available and you may find that a different option is best for your business.  It is always best to consult one of our experienced attorneys on important business formation matters like this.

What Factors are Affected by a Business Structure

The business structure you choose can affect many different aspects of your business formation and operations. Some of the most important ways include the following:

• Taxes – the process of filing taxes differs depending on the business structure you choose. For example, in a sole proprietorship filing taxes is relatively easy with profits and losses being reported on the owner’s personal tax forms.  Partnerships and LLC’s also benefit from pass-through taxation to owners’ personal income taxes, with business losses often balancing out other earned income.  Corporations, on the other hand, require separate filing of business tax returns.  They do, however, have other tax advantages such as the ability to claim a variety of deductions for business expenses, benefits paid to employees and more.
• Risk – different business structures come with varying levels of risk. For example, with a sole proprietorship or partnership, the owners assume all financial liability and their personal assets are at risk if the business fails or faces legal issues.  Conversely, an LLC keeps personal assets protected from business activities. Business owners are protected from personal liability if the business incurs excessive debt, thereby reducing a large risk component.
• Capital investment – if future growth using outside funding is a priority, you need to make sure the business structure you choose allows for the ability to easily raise capital from investors. Many investors find corporations to be the most attractive option due to the ability to sell stock and the high level of liability protection.  Other business structures may not offer as many advantages to investors, so if investment financing is an important business goal you should select the entity that best aligns with those goals.

Our Attorneys Will Help You Make the Right Choice

Starting a business is a serious commitment so take the necessary steps to ensure its success right from the start.  The attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd have decades of experience helping small business owners protect their business while achieving their goals.  We can assist in all important legal matters for your business, including selecting the right business structure, obtaining licenses, drafting company contracts, employee non-disclosure agreements and so much more.  Contact us at 847-223-1500 to learn more or to schedule a consultation.

These days many real estate transactions go quickly, with real estate agents simply filling in spaces on a standard sales contract when making an offer.  Buyers or sellers may be tempted to forgo an attorney, under the assumption that the rest of the transaction will go smoothly.  People may mistakenly believe that working with a real estate agent is sufficient to complete the purchase.  However, relying on an agent alone is not the best move.  Legal questions can arise at any time and your agent may not have the correct answers, especially if the purchase is atypical in any way.  For instance, some transactions are more complex and may involve multiple parties, unusual contract terms, specific probate laws, extra requirements due to inspections, etc.  In most instances, a qualified real estate attorney is the best way to protect your interests and your investment.

When to consult a real estate attorney

A real estate attorney should be consulted when there is any question about the complexity of the transaction.  The following are examples of specific times that a buyer or seller should have an experienced attorney on their side.

• The property is part of an estate sale
• The property is in some state of distress
• It is a commercial property
• The sale is part of a divorce settlement
• It is an investment property (especially when tenants are involved)
• The property is in foreclosure
• The property is cooperative housing, also known as a “co-op”
• If the property is in a flood zone or other problematic area
• If there are any unusual arrangements between the buyer and seller
• You’re buying or selling a property “by owner”

The above scenarios are still not a complete list of the possible situations in which a real estate attorney should be consulted.  The fact is, a real estate transaction can present legal issues at any point along the way, even in those that seem very straightforward.

What a real estate attorney will do

The most important reason to work with an attorney when buying or selling a home is to protect your interests throughout a major financial transaction. At Churchill, Quinn, Hamilton & Van Donselaar, Ltd, our experienced attorneys will guide you through the process, from the initial sales contract to the closing and beyond if necessary.  We will assist with valuable contract negotiations (including important contingency clauses), negotiate home inspection repairs, help to clear up any issues with the title, assist at the closing to ensure the accuracy of all documents and provide representation if there are any unresolved compliance issues.  And more importantly, we provide personalized, hands-on service, with an actual attorney, not just an assistant, involved in every step of the process.  Contact us at 847-223-1500 as early in the process as possible for the best legal representation when buying or selling a home.

Many people think that estate planning is something to start thinking about only after getting older or once you have accumulated a lot of assets.  But the truth is, smart estate planning starts when you are young.  There are many ways to protect your assets, establish a plan for your future estate, as well as protect your own interests while you are still living.  And the best plans are those that begin now.  Here are smart tips for getting your estate in order, no matter what your age may be.

Starting at age 18

As soon as you turn 18 you become a legal adult, which means legal decisions regarding healthcare and finances are now your responsibility.  Since your parents cannot help without your written consent, it is important to have an attorney prepare some key documents, especially before heading off to college.

• Power of attorney – designates someone to make healthcare or financial decisions for you if you cannot
• Living will – document specifies which healthcare procedures they do or do not want if they were to become terminally ill or in a vegetative state.

 In your 20s – 30s

As you get older, you will likely begin to accumulate more assets.  Additionally, this is typically the time that people start to grow their families.  Estate planning in these years could include the following

• Prepare a will – this essential document designates how to distribute your assets if you pass, as well as who should take legal responsibility for your children if necessary. You will specify an executor, who is a responsible person that you trust to carry out the directives in your will.  Without a will, the courts will make these important decisions on your behalf.
• Set up a trust – this is a legal agreement in which a trustee holds the rights to a portion of your assets, which will eventually be distributed to its beneficiary. There are many different types of trusts, each with their own benefits. Your attorney can help you decide which trust will provide the best of asset protection for you and your heirs.

In your 40s and beyond

As you get older, it is a good idea to continually review the estate planning documents you have in place and revise as necessary.  Additionally, this is the perfect time to talk to your parents to make sure they have completed their estate documents. Make sure you understand their wishes and directives, especially if you have been named as the executor of their estate.

Estate planning at every age

No matter your age, the qualified attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd can guide you through each stage in your life and help to ensure you have the proper legal protection in place for you and your loved ones.  We have been counseling our clients for decades and are dedicated to providing the individualized attention your family needs.  Contact our Grayslake office at 847-223-1500 to learn more or to schedule a consultation.

Of all places, one might think a church would be relatively safe from legal issues.  But unfortunately, a place of worship is not immune from lawsuits or other legal concerns.  Abuse claims are the number one reason for litigation against a church, but there other less common types of legal claims they need to be aware of. Here are a few that can definitely require the help of an attorney to settle.

Personal injury

Accidents and injuries can happen anywhere, even at church or a church-sponsored event.  Wet or uneven floors, unstable steps, lack of safety railings, or snow and ice can all be safety hazards that can lead to a damaging fall, especially by older members of a congregation.  Even injuries that don’t occur on their property, such as an accident in a vehicle driven by a church employee for an official function, can present liability issues.

Misuse of church funds

In a church environment, the opportunity exists for misappropriation of funds, which can lead to legal issues. There have been many cases of embezzlement by church treasurers, for example, which is a very serious crime with serious penalties. Other issues could arise from improperly executed fundraising methods that can risk a church’s tax exemption status.  A good attorney will work with church leaders to establish clear internal processes to safeguard funds. Additionally, they can review the legality of new fundraising options to ensure compliance with applicable tax laws.

Defamation of character

A pastor is an important spiritual and emotional leader of their church and their reputation is vital for maintaining its integrity. If another person or organization slanders a pastor’s good name, it can lead to a breakdown of trust which can affect congregation opinions and attendance, as well as cause serious emotional distress. False statements made with the intent of defaming the character of a religious leader can cause substantial harm to the church’s operations, and therefore legal action may be necessary to repair the damage.

It is important for church leaders to understand that their place of worship is subject to the same legal risks as any other business. In addition to the previously mentioned concerns, an experienced attorney is essential in helping to navigate legal issues regarding employment laws, tax concerns, property disputes, insurance claims and more.  At Churchill, Quinn, Hamilton & Van Donselaar, Ltd, we have proven experience successfully representing clients involving church and ecclesiastical matters.  Our attorneys understand the needs of our faith-based clients and are committed to supporting their organizations with the highest standards and integrity.  Contact us at 847-223-1500 to schedule a consultation in our Grayslake office.

The death of a loved one is often an extremely difficult time.  Working through all of the necessary details, coupled with the added stress of dealing with the probate process, can be overwhelming for many.  It’s very common for an estate to go through probate, the court-supervised process by which property is passed from a decedent (someone who has died) to the people who are entitled to inherit it. But while probate is common, it can be daunting for someone who’s never been through it before. There are, however, a few things you can do to make the probate process easier.

Educate yourself on the basics of the probate process

It’s always easier to accomplish a task when you understand it. Familiarizing yourself with how probate works should help you to navigate the process more easily.  In general, the court names an executor, or administrator, of the estate which may be stated in the will or assigned by the court if there is no will. It is then the responsibility of the executor to carry out the probate process. Their important duties include tasks like filing appropriate court documents, assessing and distributing the estate’s assets and paying any debts or taxes owed on the estate. If you have been named as an executor, it is essential to speak with an attorney to review the process in detail.

Plan ahead

The probate process can be made much easier for your loved ones if you plan ahead.  In that respect, one of the most important things you can do while you are living is to prepare a will.  This important document will detail your specific wishes regarding the settlement and distribution of your estate and will allow you to name a responsible executor that you trust to carry out those wishes appropriately.  On the other hand, if you pass away without a will the state will decide how things get distributed.

Additional ways to make probate easier would be to designate a beneficiary on your accounts, or create a trust that will directly pass certain assets or property to a specific beneficiary without probate.  In addition to preparing your own estate, it is also wise to speak with family members to make sure they also have a plan in place, especially if you are to be tasked with carrying out their wishes.

Work with an experienced probate attorney

Working with a qualified attorney, like the team at Churchill, Quinn, Hamilton & Van Donselaar, Ltd., can make a big difference in navigating the probate process.  In terms of your own assets, an attorney can help you prepare your estate for your heirs through smart will preparation, setting up a trust, establishing joint ownership of assets and more.  Each person’s situation is different and our attorneys will help prepare a personalized estate plan that meets your individual needs.

Our attorneys also provide valuable guidance for executors and others involved in completing the probate process following the death of a loved one.  It can be a complex process and many questions will likely arise along the way.  Our decades of experience will help to ensure your peace of mind throughout this difficult time.  Contact us at 847-223-1500 to learn more or to schedule a consultation.

A merger or acquisition can be an exciting time for a business and can provide benefits to both the buyer and the seller.  However, it can also pose some serious concerns to employees of either company.  In order to keep peace in the workplace during this time, make sure to prepare to answer important questions from your employees, like the following.

Common Employee Questions About a Merger

1. Will my position be eliminated?
2. If I lose my job, will there be a severance package?
3. Will my compensation or benefits change?
4. Who will I report to?
5. Will my responsibilities change?
6. Will I need to relocate?
7. What is the reason for the merger?
8. What will the new organizational structure look like?
9. What will the new company culture be like?
10. What effect will this have on our customers?

A Merger is a Challenging Time for Employees

Communication is key when it comes to preparing employees for a merger or acquisition.  The more informed they are, the more at ease they will be. And while some answers will be straightforward, others will require more thought. Additionally, it’s important to be empathetic and try to remember what they are going through.  Job insecurity can be extremely stressful, which can affect work performance.  So the more you can do to ease their fears, the smoother the transition will go.  Above all, it is important to answer questions as honestly as possible, and as quickly as possible, in order to avoid negative rumors from spreading and affecting company morale.

The best way to ensure you provide employees with accurate information is to be prepared yourself.  An experienced attorney will play an important role throughout the merger or acquisition. At Churchill, Quinn, Hamilton & Van Donselaar, Ltd, our mergers and acquisitions attorneys represent our clients as skilled advisers, mediators and negotiators throughout the process.  This type of transaction can be very complex, and we are dedicated to providing strategic legal guidance through the closing.  Contact us at 847-223-1500 to learn more or to schedule a consultation.

The decision to become a legal guardian to an adult should be done with careful consideration.  It is a big responsibility to assume the care of another person’s estate, finances and overall well-being. Therefore, you should make sure you understand what is involved before starting the process. The following information can be used as a starting point in your research. As a next step, our experienced attorneys can help you understand how to navigate the legal process of obtaining guardianship in the state of Illinois.

Basic Guardian Requirements

In order to become a legal guardian in Illinois, you must meet certain basic criteria.

• Must be at least 18 years of age
• Must be a United States resident
• Must be physically able to provide proper care
• Must have full mental capacity to think, reason and make decisions
• Must not have been convicted of a serious crime

Types of Guardianship

The legal rights and responsibilities of a guardian in Illinois can be structured differently, in order to best meet the needs of those involved.

• Limited guardian – the court grants limited power to the guardian to make specific decisions about personal care or finances. This type of guardianship is often used when the person is still capable of making some decisions on their own.
• Plenary guardian – the court grants full decision-making responsibilities regarding personal care, finances and estate matters. This guardianship is applied when the person’s mental or physical limitations prohibit their ability to make these important decisions.
• Temporary guardian – in cases where immediate action is necessary due to safety concerns, a court can grant temporary guardianship to last up to 60 days while the final legal proceedings are being completed.

The fact that a person is elderly or disabled in some way is not cause in itself to require another person to assume guardianship over them.  A court must first evaluate and establish that need, then determine the extent of guardianship that is necessary.  Becoming a guardian is a complex process that requires sound legal assistance from a qualified attorney.  At Churchill, Quinn, Hamilton & Van Donselaar, Ltd, we have represented people at all stages of the guardianship process. Our expert guidance throughout every step will help to ensure the best outcome for all involved.  Contact us at 847-223-1500 to schedule a consultation.

Having a judge rule against you in a court of law is never a desired outcome.  However, a judge’s decision does not always have to be final, and there are sometimes ways to appeal the decision and try to obtain a ruling in your favor.  An appeal is a request for a higher court to review your case and reverse the decision.  It is a complex process, so keep in mind the following strategies to improve your odds of a favorable outcome.

Hire an Experienced Attorney

The first, and most important, thing you should do when faced with an unsuccessful court case is to contact the right attorney.  In this case, an effective attorney is one who has proven appeals experience and knows how to successfully litigate an appeal in court.  The process of appealing a case is very complicated.  Thus, the better prepared your attorney is, and the more experience they have in applying the right strategies throughout the process, the more likely your chance is of winning your appeal.

Determine your Grounds for Appeal

You cannot file an appeal simply because you do not like the decision of the court. There must be a valid basis for the appeal that alleges a legal mistake was made during the original court proceedings.  Acceptable grounds for appeal include:

• Legal errors made by the judge in the original case
• Evidence in the case that did not support the verdict
• An unfair trial
• Ineffective counsel by your attorney

Pay Attention to the Details

Accuracy and punctuality are necessary for success in any court case.  But when it comes to the complex process of an appeal, these details become even more important.  There are many specific rules that need to be followed throughout the appeals process.  Additionally, there are many legal documents that need to be prepared and filed along the way, along with numerous deadlines that must be strictly adhered to.  A mistake on any of the complicated court forms or a missed deadline can get the case dismissed.

Understand the Possible Outcomes

After the appellate court judges have completed their review, they can make the following decisions:

• Affirm – The court agrees with and upholds the decision of the lower court
• Reverse – The court disagrees with the lower court’s decision, and the appeal is won
• Remand – The court sends the case back to the lower court to consider new evidence or hold a new trial
• Reverse and Remand – The court disagrees with what happened in the lower court and sends it back to be corrected

An appeal is not a new trial and it is not an opportunity to present new evidence or witnesses.  But if you feel like the court’s decision was legally incorrect, it is worth it to explore the possibility of having the facts of your case reviewed again.  The attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd have proven experience navigating the complexities and nuances of a successful appeal, and have represented clients at all levels of Illinois appellate courts and up to the United States Supreme Court.  Contact our Grayslake office at 847-223-1500 for information about the appeal process or to schedule a consultation.

Additional information can be referenced here https://www.isba.org/ibj/2013/07/tentipstoimproveyourcaseonappeal

Buying a new home is an exciting event.  However, it can also be overwhelming, especially for first time homebuyers.  After making it through the contract negotiations, inspections, appraisal and loan approval, you don’t want the deal to fall apart at the closing!  Here are some key things to keep in mind in order to make the day as easy as possible.

Don’t open new credit lines

For many lenders, it is standard practice to pull a current credit report right before the closing.  In doing so, they are reconfirming credit scores and allowable credit ratios in order to fund the final loan. Homebuyers who are excited about their upcoming purchase might be tempted to rush out and open new credit accounts to purchase home furnishings, updated carpeting, etc.  But this can lead to overextending credit limits and debt ratios or incurring a slew of new inquiries which can threaten the entire purchase transaction.  The best advice in this situation is to pay cash or wait until after the mortgage loan is closed to apply for new credit.

Bring all necessary documents with to closing

It is not uncommon for lenders to require last-minute documentation as a condition of the loan approval.  Additionally, the title company will require certain documents, such as proof of identity, at the closing.  To be fully prepared at the closing, homebuyers should bring the following with:

• Government-issued photo ID
• Separation or divorce papers
• Copy of the purchase contract
• Proof of homeowners insurance
• Home inspection reports
• Any information still required by the lender

Be prepared with funds needed at closing

Closing on a purchase transaction will require the purchaser to bring funds to the closing.  These funds are necessary to cover the down payment, escrow, fees, etc.  The title company may require a cashiers check or a wire transfer on the day of closing.  This could mean planning to make a trip to the bank during business hours to get the certified funds to bring to the closing.  Or if a wire transfer is required, it is imperative to understand the bank’s wiring procedures, which can range from one to three days to complete a transaction.  Homebuyers that plan well in advance for their closing funds are better situated to avoid closing delays.

Work with an experienced real estate attorney

A home purchase is one of the biggest investments most people will make in their lives.  As such, this is not the time to attempt to proceed without an attorney.  This applies to first time homebuyers, as well as those who are on their second or third home.  Every home purchase transaction is different and there are so many opportunities for things to go wrong.  A qualified attorney can help to avoid problems outright, or help resolve issues that arise during the process.

Our experienced legal team assists homebuyers throughout the purchase process, from negotiating the purchase price and terms all the way through to closing day.  When we represent you on the day of closing, we will:

• Ensure all terms of the purchase contract are being met
• Resolve any issues from the final walkthrough
• Review all of the closing documents to ensure accuracy
• Help clear up any title discrepancies
• Answer any questions you have during the closing

If you are in the market for a new home, call our office at 847-223-1500 as early as possible in the process so we can provide the important legal protection you need for this exciting new investment.

For many people, it is natural to want to share their acquired wealth with their kids or grandkids in the form of a monetary gift. Preparing an estate plan is a great way to determine how to settle your estate and distribute your assets to your heirs after you pass.  But for those looking to gift some of their assets while they are still living, here are some strategies to consider.

Consider the Benefits of Gifting Now

When devising an estate plan, one consideration will be the issue of when to start distributing your assets.  Some people may not be comfortable gifting any part of their assets while living, for fear of depleting their resources. When this is a cause for concern, holding onto your assets is the wise choice.  But for those who can afford it, there are benefits to gifting now, rather than waiting.  For one, there is great pleasure to be had watching your heirs enjoy your gift.  Additionally, any assets that are gifted while living reduces the total value of your estate.  This would result in lower overall estate taxes and probate fees applied to your estate after your passing.

Giving a Gift of Cash or Other Assets

Gifting cash to loved ones can certainly make a difference in their lives, by allowing them to pay off debt, start a business, or make plans for their futures.  However, if you have decided that you are financially comfortable enough to start distributing some of your assets to your kids or grandkids, it is wise to stay below the IRS annual gift tax exclusion threshold.  In 2022, you are allowed to gift up to $16,000 per year to each recipient without incurring a gift tax. This sum would include any type of assets, including cash, stocks, a car, etc.  If you are married, each spouse is allowed to gift the maximum of $16,000 to each individual.  For example, you could gift $16,000 to your granddaughter, and your spouse would also be able to gift another $16,000 to the same granddaughter without being subject to the IRS gift tax.

Contribute to Education or Medical Expenses

Another way to provide financial support to loved ones while you are still living is to contribute to medical or educational expenses.  You can gift money to grandchildren and other family members by contributing to a 529 college savings plan account, which can be used for qualified education expenses.  Or you may also make direct tuition payments to an educational organization on behalf of your family member and it would not be treated as a taxable gift.  Likewise, medical expenses are also not subject to the annual gifting limit when paid directly to the provider, and helping to cover these expenses can do a lot to ease someone’s financial burden.

Determining your gifting strategy is a personal decision that needs to be made according to your current financial situation plus your potential needs for the future.  The attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd. can help prepare an estate plan that meets your specific needs as well as explain the potential tax implications of any decisions.  Contact our Grayslake office at 847-223-1500 to schedule an appointment with one of our experienced estate attorneys who will help you through this important process.

The U.S. Small Business Association (SBA) provides support to small business owners who are looking for affordable financing for their businesses.  While they do not directly lend money to businesses, they do assume a portion of the risk of an SBA loan, which encourages banks and other lending institutions to offer these loans with attractive rates and terms.

Applying for an SBA loan can be a complex process, and each lender may have different qualification requirements.  The most important thing to remember before applying for an SBA loan is to be extremely well-prepared ahead of time.  Pay attention to the following details in order to increase your chances of obtaining that approval on your application.

Check your credit

As with most loans, higher credit scores lead to greater opportunities for an approval of an SBA loan.  Make sure to obtain a copy of your credit report from all three credit bureaus ahead of time and correct any errors on your report in order to maximize your credit score before applying.

Research lending options

There are various lenders you can look to for an SBA loan, such as large national banks, local credit unions or alternative lending institutions with expanded approval criteria.  Be sure to investigate the factors that affect approvals at each of these options, such as credit score requirements, business duration, annual revenue and more.

Organize your business records

Regardless of which lender you work with, you will need to provide certain documents with your application.  While each lender may vary in terms of what they require, it is a good idea to have the following ready to submit upon request:

• Tax returns
• Bank statements
• Profit and loss statements and projections
• Articles of incorporation
• Leases
• Business license

Prepare a thorough business plan

Before any lender will approve an SBA loan, they will want specific information about your business, it’s future, and what you need the money for.  Therefore, you will need to prepare a solid business plan that includes details about your operations and growth strategy.  A typical business plan should include information about:

• Executive summary that describes your business and mission statement
• Description of your product or service along with details about the solutions your business provides
• Market analysis to determine your target market as well as competitor information
• Legal structure of your business, such as sole proprietor, limited liability company, s-corporation, etc.
• Sales and marketing strategies
• Financial projections
• Detailed description of what the requested funds will be used for

Work with a qualified business attorney

An attorney with experience in business law can help you understand the best loan to apply for, as well as help you prepare ahead of time to maximize your chance of getting an approval.  Additionally, they can review and explain your loan documents, assist throughout the closing process or represent you in court if any legal issues arise.

When it comes to the security of your business, working with an attorney at Churchill, Quinn, Hamilton & Van Donselaar, Ltd. can give you peace of mind that you will be protected.  Legal challenges can arise during any stage of your company’s development, and our team has proven experience helping our corporate clients create sound legal strategies for success.  Contact our Grayslake office at 847-223-1500 to learn more.

When the time comes to retire, it is important to know that the business you have worked so hard for through the years is protected.  The decision to pass on the family business takes careful consideration, and these practical tips will help to ensure that the transition goes smoothly.

Establish Business Objectives and Goals Early On

It is never too early to start planning for the future.  And the more detailed objectives you establish early on, the smoother the eventual transition will be.  Think about what direction you want the company to move in and which people are most able to achieve those goals.  Always try to involve your family in this process and maintain an open dialogue among those family members who are involved.

Decide on the Structure of the Transfer

When passing on a family business, there are a number of ways to structure the transaction.  For example, aside from the standard lump-sum sale, you have the option of transferring all or part of the company as a gift.  Additionally, you could sell a portion of the company while retaining some of the assets and income.  Or you could choose to provide a loan to the new owner, thereby earning additional income through interest.  There are advantages and potential tax implications to each of these options, so you need to decide on the structure that best matches your personal circumstances and goals.

Be Objective When Making Decisions for the Company

A family business is still a business, which means you must sometimes make very difficult decisions.  When family is involved, it can be challenging to keep the best interest of the business in mind. However, this is the only way to ensure its continued success.  For example, you must objectively look at which family members are capable of taking on specific roles, and know that not everyone will get an equal share.  There are many arrangements that can be made that will allow non-managerial family members to benefit from the business and your attorney will help devise the best plan for your individual situation.

Work With an Attorney Who is Experienced in Business Law

So much goes into the successful transition of your family business, and the laws can be complex.  Of course, you want what is best for your family and for the transition to be as easy as possible.  And the best way to protect your business and the family members who assume the new responsibilities is to work with a qualified attorney. The experienced attorneys at Churchill, Quinn, Hamilton & Van Donselaar, Ltd. can provide essential advice on company structure, planning strategies at all stages of the company, plus many more valuable options that can help the company thrive from one generation to the next.  Call us at 847-223-1500 or visit grayslakelaw.com for more information.

Additional information can be referenced here

Disputes regarding real estate are common.  Unfortunately, residential and commercial property owners, developers, and even potential property owners can find themselves involved in a real estate dispute at some point.  Working with an attorney who is experienced in real estate litigation can help a current or potential property owner protect their legal rights to their real estate.  Here are a few of the most common situations for an attorney to get involved.

Real Estate Contract Disputes

A real estate contract is a binding agreement, and sellers are obligated to ensure that the details, including any known defects, are true and accurate.  Additionally, both buyers and sellers must ensure that they comply with all of the terms and conditions set forth in the contract.  If one party fails to follow the terms of the contract, the other party may sue for breach of contract.  Similarly, if the seller fails to disclose a property defect, the buyer may pursue legal action against the seller.

It’s important to note that working with an experienced real estate attorney from the start of any purchase transaction can help both parties avoid legal action down the line.  A good attorney will thoroughly review the contract and other transaction documents, to verify terms and conditions and explain buyer and seller legal obligations.

Property Boundary Disputes

If there’s one thing that can affect a relationship with a neighbor, it’s a disagreement over where one property ends and another begins.  For example, you look out your back window one day and see that the couple next door has built a fence, pool, deck or other permanent structure on what appears to be your property.  Moving the structure might not be an easy task, so if a reasonable discussion with them doesn’t work, a legal intervention is sometimes the only way to settle the dispute. In this situation, your attorney can take the necessary legal steps to prove your right to the land and protect your rights to your property.

Joint Property Ownership Disputes

Purchasing a property with another person can be a smart investment decision.  However, when there are disagreements regarding the property, disputes between owners can quickly escalate.  There are a number of reasons that might lead one co-owner to disagree with the other. For example, they might have different ideas as to improvements that need to be made, or whether it is time to sell the property.  There could also be disputes over who is responsible for paying the taxes, mortgage payments or maintenance costs.

Choose the Right Attorney for Real Estate Litigation Issues

Working with Churchill, Quinn, Hamilton & Van Donselaar, Ltd for matters involving property disputes gives you an advantage, because of our extensive experience in real estate law.  We have helped our clients find successful resolutions, both in and out of the courtroom, for a wide range of real estate disputes.  To better serve our clients involved in a real estate litigation case, our litigation attorneys work closely with our real estate attorneys in order to combine our insight and expertise and get the best possible outcome.  Contact our Grayslake office at 847-223-1500 to learn more or to schedule a consultation.

We’d like to announce our firm’s new name: Churchill, Quinn, Hamilton, & Van Donselaar.   We’ve refreshed our logo and our website, too – get a sneak peek here:  www.grayslakelaw.com

New Name, Refreshed Look, Same Great Service

Although we’ve had a little update, you can be assured we are offering the same exceptional legal services as always.  2021 was a time for change in many companies.  We guided many businesses through the challenges the last year presented, and helped them reshape and refresh their companies.  Likewise, we decided to take this time to update our own business’s look as well.

Along with our new name, we’ve rolled out a brand-new logo and a refreshed website to acknowledge that we, like so many businesses, needed a bright, positive change.

Still Located In Downtown Grayslake

Rest assured; our offices are still in the same place – on the same corner in Downtown Grayslake where we have been for over 100 years!  We still make it a priority to give back to our community and look forward to sponsoring many more in-person events this year, including the Beer Festival, the Golf Outing, and of course, Grayslake Summer Days!

Providing Both Personal and Business Law

As always, our law firm is here, in your community, to help you through whatever legal challenge you are facing.  Whether you need a lawyer to go to court with you, challenge your increasing property tax, to fight insurance fraud, or solve a problem you’re having with your landlord or tenant, we are here to support you.

Here are a few other matters we can guide you through:

Family matters such as setting up a trust or estate, setting up living wills or powers-of-attorney, or wealth protection

Business matters such as filing a Workers’ Compensation claim, malpractice claims, forming a corporation or LLC, starting a charitable organization, or transactions such stock/asset purchases and sales, mergers and acquisitions

Real Estate items such as drafting commercial real estate contracts, rezoning of real estate, and residential or commercial leases

There are many more ways CQHV can help you personally or with your business.  We have a new name, our look is refreshed & our lawyers are here to help as we have always been!  For a free consultation, give us a call at (847) 223-1500 or find more info here.